Nippon Building Fund Incorporation : Notice Concerning Debt Financing

April 27, 2021

To All Concerned Parties

Name of REIT Issuer:

Nippon Building Fund, Inc.

Koichi Nishiyama, Executive Director

(TSE Code : 8951)

Contact:

Asset Management Company

Nippon Building Fund Management, Ltd.

Yoshiyuki Tanabe, President and CEO

Person to Contact:

Yukio Handa, General Manager

(TEL. [phone])

Notice Concerning Debt Financing

Nippon Building Fund, Inc. ("NBF") hereby provides notice that the following was decided as of April 27,

2021 concerning a long-term borrowing:

Description

1. Long-term Borrowing

	Amount	Interest	Expected Date of	Methods of Borrowing,	Repayment Due
Lender	Repayment, Security
Borrowed	Rate	Implementation	Date
	and Guarantee etc.
				Unsecured,
				unguaranteed,
The Iyo Bank, Ltd.	¥1 billion	0.320%	April 30, 2021	repayable in one lump	April 28,2028
				sum on repayment due
				date

2. Amount, Use and Expected Date of Expenditure of Proceeds

(1) Amount to be borrowed

¥1 billion

1. Specific use of proceeds Refinancing of a long-term borrowing
2. Expected date of expenditure April, 2021

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3. Status of Borrowings etc. following the financing

			(Unit: million yen)
	Before	After		Increase /
	Financing	Financing		Decrease
Short-term borrowings	0	0		0
Long-term borrowings	27,000	27,000		0
(Floating interest rate)
Long-term borrowings	466,500	466,500		0
(Fixed interest rate)
Bonds	57,000	57,000		0
Total	550,500	550,500		0

4. Other Matters Required for Investors to Appropriately Understand and Evaluate the Above Information

There is no change to the content of "Investment Risks" of the Securities Report submitted on March 30, 2021 with respect to the risks involved in repayment etc. of the current debt financing.

End

This English language notice is a translation of the Japanese language notice dated April 27, 2021 and was prepared solely for the convenience of, and reference by, overseas investors. Neither NBF nor Nippon Building Fund Management, Ltd. makes any warranties as to its accuracy or completeness.

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